ADC Unloads Billing Unit6/04/2004 5:30 AM Eastern
ADC Telecommunications Inc. said Friday that it has reached an agreement to sell its customer-care and billing-software division to Intec Telecom Systems.
The purchase price of the cash deal was $74.5 million, subject to adjustments. Other terms were not disclosed. ADC said it expects the deal to close in about 90 days.
Following the transaction’s completion, Intec will assume control of the customer-care and billing-software offerings, including approximately 600 employees, current relationships with existing software customers and related facility space.
"This decision advances our strategy to focus ADC on our core strengths," ADC CEO Robert E. Switz said in a prepared statement. "Our product and service offerings are designed for the infrastructure layer of the network, which is the fundamental element that wireline, wireless, cable, enterprise and broadcast networks require to scale services and function with high efficiency."